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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

The Eternal Pink diamond expected to bring in more than $35 million.


Diamond

Thu 30 Mar 2023 | 03:41 PM
Walid Farouk

A 10.57-carat diamond will be the centerpiece of the June 8 New York Magnificent Jewels sale at Sotheby’s, where it is expected to bring in more than $35 million.

The Eternal Pink, a cushion-cut, fancy-vivid-purplish-pink, internally flawless, type IIa diamond, is the most valuable stone of its color ever to appear at auction, Sotheby’s said Wednesday. It also carries the highest price-per-carat estimate placed on any diamond or gemstone, at $3.3 million.

Sotheby’s believes the stone will “challenge” the per-carat record for any diamond or gemstone sold at auction, set by the Williamson Pink Star, an 11.15-carat, fancy-vivid-pink, internally flawless diamond. The auction house sold that gem in Hong Kong in October for $5.2 million per carat, with the piece beating estimates to achieve a total of $57.7 million.

a pink and white bracelet

The Eternal Pink Diamond Ring. (Sotheby’s)

“This color is the most beautiful and concentrated shade of pink in diamonds that I have ever seen or has ever come to market,” said Quig Bruning, head of Sotheby’s jewelry for the Americas. “The Eternal Pink’s immense presence and great rarity make it comparable to ultimate masterpieces of art — far rarer than a [René] Magritte or [an Andy] Warhol. Combined with its exceptional clarity, it is not surprising that it would command the highest per-carat presale estimate for any diamond to date.”

Diacore manufactured the diamond from a 23.78-carat rough recovered from De Beers’ Damtshaa mine in Botswana.

Sotheby’s will present the diamond in Hong Kong between April 1 and 7 to mark the auction house’s 50th-anniversary celebration in the municipality. It will then travel on a world tour, with exhibitions set for Dubai, Singapore, Shanghai, Taiwan, Geneva and New York.